The Slovenia Times

State sells stake in Paloma for EUR 9.66m


 The state is to get EUR 9.66m for the 30% stake it was left with after the new owner recapitalised Paloma with EUR 18.2m last year.

Eco Investment, which got a 57% stake with the recapitalisation, published the bid for the remaining shares in January. The bid for the 3.4 million shares - the SSH held 2.4 million - expires on 27 February.

The new owner plans to invest an additional EUR 70m in Paloma in the coming years in a bid to make it into a regional development centre. The company's headcount is planned to increase from 700 to 900.

Paloma reported a net profit of EUR 1.9m on EUR 64.5m in sales revenue in the first nine months of 2016. The revenue was up by 2% and operating profit jumped 260% year-on-year to EUR 2.6m.

The company, which puts out some 70,000 tonnes of tissue paper a year, was one of the 15 state-owned enterprises put on a privatisation list in 2013. The state held a 71% stake before the recapitalisation.

Paloma is the ninth company from the list to get privatised. Telekom Slovenije is the biggest among the companies remaining on the list.


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